A new study has found that busy start-up owners are devoting less than a day per month to market their business.
Affilinet polled 1,838 business owners, all of whom founded a company within the past three years, to investigate the time and effort they put into marketing activities.
The study found that the average UK start-up owner is only spending about an hour and a half each week on marketing; almost one third say they plan to outsource marketing to consultants or agencies within the next twelve months.
A lack of time and expertise were cited as the main reasons for spending so little time on marketing. The findings showed that:
- 64% said there was a lack of marketing experience/knowledge within the business;
- 57% said they didn't have enough time;
- 41% said they didn't think marketing would be as beneficial to the business as other strategies;
- 36% said they needed more budget;
- 17% said previous marketing efforts had not been effective so they were taking a step back.
The most common areas of marketing that business owners said they spend most time on are "working on or selling products/services" (27%), "setting up a functional website" (18%) and "logistics and operations" (13%).
However, the majority said they wanted to spend more time on marketing; 84% said that it was going to be more of a priority for their business during the next twelve months.
Richard Greenwell, head of affiliate development and operations at Affilinet, said: "Marketing should ideally be at the heart of any new business start-up. It's fairly shocking just how little time and effort many start-up owners are putting into their companies, and whilst it's great that they plan to outsource efforts eventually, until this budget is in place it should be one of their biggest priorities."